Freestanding Office
For Sale
$1,400,000
400 NE 44th St, Oakland Park, FL 33334
Commercial Sale, Oakland Park, FL
Property Size3,920 SF
Lot Size0.27 Acres
Price / SF$357.14
Days on Market107
Property Features for 400 NE 44th St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-2
Parking
11
Subdivision
3450
Standard status
Active
APN
494222160210
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
NORTH ANDREWS GARDENS ANNEX 35-19 B LOT 21,22 BLK 1
Tax Annual Amount
15345
Legal Description
NORTH ANDREWS GARDENS ANNEX 35-19 B LOT 21,22 BLK 1
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Flooring type
Tile
Building materials
Block
Architectural style
Other
Listing Agency:
The Keyes Company
(305) 822-9800
Listed By:
Xiomara Castillo · License #3046735
(305) 772-4001
Added: May 27
Changed: Sep 2
Last Checked: Sep 10 at 10:06AM
MLS# A11998579
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding office building provides 3,920 SF of interior space with four bathrooms. The 1964 block-construction property features tile flooring, central air conditioning, electric heating, and public water service. A fenced rear yard adds secured outdoor area, while parking is positioned at the front of the building.
The property carries B-2 zoning and is located within a Commercial Opportunity Zone. It has completed the 40-year inspection and offers a straightforward office configuration in an established business district setting. The building’s existing systems and durable construction support continued commercial use.
The property carries B-2 zoning and is located within a Commercial Opportunity Zone. It has completed the 40-year inspection and offers a straightforward office configuration in an established business district setting. The building’s existing systems and durable construction support continued commercial use.
Key Highlights
- 3,920 SF freestanding office building
- B‑2 zoning within a Commercial Opportunity Zone
- Four bathrooms and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$103,900
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,078,000
$2.1M
Cap Rate 7%
$1,484,286
$1.5M
Cap Rate 9%
$1,154,444
$1.2M
Market Conditions
NOI Build-Up for 3,920 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$178.8K $45.60/SF
− Vacancy
−$40.2K −$10.26/SF
EGI
$138.5K $35.34/SF
− OpEx
−$34.6K −$8.84/SF
NOI
$103.9K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,078,000
Cap Rate 7%
$1,484,286
Cap Rate 9%
$1,154,444
Alternative Uses
Best Use
Office B
$1.48M
$1.30M – $1.73M
NOI $103,900 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,215 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Block construction with tile flooring, central air, and front parking.
Where is this office building located?
The property is located at 400 NE 44th St Oakland Park, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 3,920 SF freestanding office building; B‑2 zoning within a Commercial Opportunity Zone; Four bathrooms and tile flooring
